Subordinated Debt Security definition

Subordinated Debt Security means any note, secured or otherwise, debenture, or other debt security issued by a savings and loan association which is subordinated or junior, on liquidation or otherwise, to any liability or claim of any order or rank, including all claims having the same priority as or a higher priority than savings account holders.

Subordinated Debt Security means a Security over Subordinated Liabilities entered into or to be entered into by a Subordinated Creditor in favour of the Security Agent in an agreed form.

Subordinated Debt Security means one of the Subordinated Debt Securities.

Examples of Subordinated Debt Security in a sentence

• Each Holder by accepting a Subordinated Debt Security authorizes and directs the Trustee on his behalf to take such action as may be necessary or appropriate to acknowledge or effectuate the subordination between the Holders of Subordinated Debt Securities and the holders of Senior Indebtedness as provided in this Article XII and appoints the Trustee as attorney-in-fact for any and all such purposes.

• Each Holder by accepting a Subordinated Debt Security agrees that the Debt evidenced by such Subordinated Debt Security and any related Guarantee of such Subordinated Debt Security is subordinated in right of payment, to the extent and in the manner provided in this Article XII, to the prior payment of all Senior Indebtedness and that the subordination is for the benefit of and enforceable by the holders of Senior Indebtedness.

• Each Holder by accepting a Subordinated Debt Security agrees that the Indebtedness evidenced by such Subordinated Debt Security is subordinated in right of payment, to the extent and in the manner provided in this Article XII, to the prior payment of all Senior Indebtedness and that the subordination is for the benefit of and enforceable by the holders of Senior Indebtedness.

• If any Subordinated Debt Security called for redemption shall not be so paid upon surrender thereof for redemption, the Subordinated Debt Security shall, until paid, continue to accrue interest from and after the Redemption Date in accordance with its terms and the provisions of Section 3.07.

• Upon the issuance of any new Subordinated Debt Security under this Section, the Company may require the payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Trustee) connected therewith.

• In case any such mutilated, destroyed, lost or stolen Subordinated Debt Security has become or is about to become due and payable, the Company in its discretion may, instead of issuing a new Subordinated Debt Security, pay such Subordinated Debt Security.

• Each Holder by accepting a Subordinated Debt Security agrees that the Debt evidenced by such Subordinated Debt Security is subordinated in right of payment, to the extent and in the manner provided in this Article XII, to the prior payment of all Senior Indebtedness and that the subordination is for the benefit of and enforceable by the holders of Senior Indebtedness.

• Each Global Security authenticated under this Subordinated Debt Securities Indenture shall be registered in the name of the Depositary designated for such Global Security or a nominee thereof and delivered to such Depositary or a nominee thereof or custodian therefor, and each such Global Security shall constitute a single Subordinated Debt Security for all purposes of this Subordinated Debt Securities Indenture.

• Ore will be hauled with 20 ton trucks from loading stations directly to the processing plant to avoid re-handling.

• For all purposes of this Subordinated Debt Securities Indenture, unless the context otherwise requires, all provisions relating to the redemption of Subordinated Debt Securities shall relate in the case of any Subordinated Debt Securities redeemed or to be redeemed only in part, to the portion of the principal amount of such Subordinated Debt Security which has been or is to be redeemed.

More Definitions of Subordinated Debt Security

Subordinated Debt Security means a document creating a Security Interest in relation to any Subordinated Debt in the Agreed Form.

Subordinated Debt Security means a document creating a Security Interest in relation to any Subordinated Debt in the Agreed Form;

Subordinated Debt Security has the meaning given in sub-paragraph (ii) of paragraph (b) of Clause 22.11 (Financial Indebtedness and subordination of indebtedness).

Subordinated Debt Security means a second priority Security over Subordinated Liabilities granted or to be granted by a Subordinated Creditor in favour of the Security Agent in an agreed form.

Subordinated Debt Security or “Subordinated Debt Securities” shall mean a Subordinated Debt Security or Subordinated Debt Securities, as the case may be, consisting of debentures, notes and/or other unsecured evidences of indebtedness, authenticated and delivered under this Indenture. The term “outstanding”, when used with reference to Subordinated Debt Securities, shall, subject to the provisions of Section 9.04, mean, as of any particular time, all Subordinated Debt Securities authenticated and delivered by the Trustee under this Indenture, except